Glassnode: Bitcoin longs pile up as spot buying stays weak, $80K break risk grows
- —Futures open interest at $36.4 billion, down just 0.3% on the week
- —Funding payments rose 49.4% to $1.6 million per day
- —25-delta skew widened from 5.2% to 8.6% as demand for downside protection grows
- —Spot flow deteriorated from -$67 million to -$83.6 million
Why it matters: Stacked leverage leaves the market fragile: a break below $80,000 would accelerate a long liquidation cascade.
Source: Cointribune